9.2 LEADING A NET-ZERO ECONOMY The Canadian electricity industry has already taken impressive steps resulting in a cleaner environment. Introduction to How the Canadian Electricity Industry is Leading the Way In support of the Canadian government’s Net Zero by 2050 commitment, the Canadian electricity industry has made efforts to modernize the grid and develop new technologies to lower our carbon footprint. However, there is more to be done—particularly as electricity assumes a place of even more central importance within our economy.
4Ds—The Changing Electricity Landscape The electricity industry is undergoing highly consequential change driven by evolving customer and societal expectations around decarbonization, decentralization, digitization, and democratization. Decarbonization Decarbonization is reducing CO2 emissions. Canada’s electricity industry is committed to ongoing efforts to decarbonize the sector through the further reduction of fossil fuel-generated electricity along with other initiatives. For example, efforts are ongoing to green the vehicle fleets owned, managed, and operated by electricity utilities. Decentralization Decentralization is driving the adoption of microgrids and distributed energy resources, especially in remote communities with limited access to provincial and territorial grids. The grid is under transformation. Originally designed for one-way delivery of electricity from generation through transmission and distribution to the customer, it is now rapidly changing to a multipath grid allowing the incorporation of many new forms of renewable generation from many sources, including solutions from the customer side of the electricity meter. Digitization Digitization is propelling tremendous improvements in communications technology to optimize system operations, using advanced technologies such as artificial intelligence, blockchain, and robotics. These technologies have reduced costs and enabled greater efficiencies across the electricity value chain and for consumers. New capabilities enabled through the “Internet of Things” are allowing many new electricity management technologies and tools to help improve the grid and drive its ongoing development. Democratization Democratization is enabling new players to enter the electricity market, whether as proponents of distributed energy resources, suppliers of technology, or providers of supplemental services to customers. Decarbonization is the most prevalent trend in the industry, given the urgency to act on climate change and the meteoric rise of clean energy investments.
Electricity Canada | Electricity Fundamental in Canada: Student Handbook
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